California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 40 - Industrial Loans
Article 1 - General Provisions
Section 40.106 - Impairment of Capital Defined: Section 18368(a), Financial Code

Universal Citation: 10 CA Code of Regs 40.106
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

For purposes of Section 18368(a) of the Financial Code capital is impaired when the minimum amount of capital required by the Financial Code is reduced by a net deficit balance in the company's surplus accounts.

1. Change without regulatory effect renumbering former section 1119 to new section 40.106 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18368(a), Financial Code.

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